DASHBOARD: Media valuation comps for May 2025
- Publisher : Venture Insights
- Publish Date : June 12, 2025
This Media Valuation Comps report provides a comprehensive analysis of key financial metrics for media stocks listed in Australia and New Zealand (ANZ). It includes detailed visualisations of monthly and annual share price movements, key earnings multiples, and forward earnings multiples compared to forward growth estimates. Additionally, it tracks share price trends over the past twelve months, offering valuable insights for market participants.
Figure 1: ANZ media share price changes May 2025
Source: Firehawk
Key developments
Overall, the media sector in Australia and New Zealand have struggled to maintain their position over the last year with the deterioration of economic conditions. Economic growth is sluggish relative to previous years, and the impact on advertising continues to depress valuations for ad-dependent stocks.
Seven West Media
Seven West Media’s stock increased by nearly 18% after the company released an announcement that it has entered into a binding agreement with Southern Cross Media to acquire the television licences and associated assets operating in Tasmania, Darwin, Spencer Gulf, Broken Hill, Mt Isa and Remote, Central and Eastern Australia. The purchase price for the acquisition is $3.75 million and completion of the transaction is expected by 30 June 2025. SWM Managing Director and Chief Executive Officer, Jeff Howard, said: “The acquisition of these television licenses is another positive step in SWM’s strategic transformation program.
ARN Media
ARN Media’s stock declined by around 5% during May, continuing its bad run with the stock down around 25% over the past six months to the end of May. During the month the company posted a trading update, with headlines being the total April YTD revenue finished ~2% behind the prior comparative period, with a modest improvement in gross margin for the period to date, driven by product mix and pricing. In addition, “significant progress” has been made in its cost out program which targets $40m savings over 3 years.
Nine
Nine’s stock has lifted around 13% during May, with the company releasing a trading update which included that total TV ad revenues grew by almost 8% in Q3 FY25 on pcp. Domain has received a non-binding indicative proposal from CoStar to acquire 100% of the issued capital of Domain, with due diligence extended to 12th May. Finally, Nine expects further cost efficiencies through to the end of FY27 of more than $100m, of which $10-20m is expected to be realised in FY25, in addition to the previous guidance of $50m in FY25.
Figure 2: ANZ media valuation multiples April 2025
Source: Firehawk
About Venture Insights
Venture Insights is an independent company providing research services to companies across the media, telco and tech sectors in Australia, New Zealand, and Europe.